Vital Elements of Project Charter That a PMO Must Know

The project charter defines the
vision and objective of a project. It summarizes a high-level project strategy,
scope, objectives, and implementation. Typically, project charter documents the
objectives of the project, how it will be carried out, and the respective
stakeholders.

A project charter is a crucial
element in project planning as it is useful during the entire project. In this
article at Project-Management.com, the author lists out all the essential
elements of a project charter that sets off the project
on the right track.

Crucial Mandates

The project
charter must cover the preliminary framework of the tasks to be performed while
giving clear guidance to the teams and stakeholders about the project. It reflects
the commitment of an organization to deliver the best possible outcome.

What to Include?

A project manager must document the charter
with these elements included in it:

Clearly defined objectives and purpose of the project

Brief high-level requirements of the project

Project description in one or two paragraphs

Risks determined for the project, capturing major areas of
concern

Event scheduling with dates showcasing major milestones

Summary of the
estimated budget for the project

Approvals required from the organization

Key stakeholders of the project

Introduction of authority or project sponsors

Keeping relevant project goals within time limits

The project charter gives a bird’s
eye view of the project in the form of a formal agreement with the crucial project details. Before starting or
further committing anything to a new
project, the managers are advised to see if all the elements included in the
project charter are well-placed.

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